Pursue Wealth Partners LLC Has $2.03 Million Stock Holdings in Salesforce Inc. (NYSE:CRM)

Pursue Wealth Partners LLC grew its position in Salesforce Inc. (NYSE:CRM - Free Report) by 48.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,547 shares of the CRM provider's stock after purchasing an additional 2,477 shares during the quarter. Salesforce comprises approximately 1.2% of Pursue Wealth Partners LLC's investment portfolio, making the stock its 28th biggest position. Pursue Wealth Partners LLC's holdings in Salesforce were worth $2,025,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Geode Capital Management LLC grew its position in Salesforce by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after buying an additional 175,035 shares in the last quarter. Fisher Asset Management LLC grew its position in Salesforce by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after buying an additional 177,321 shares in the last quarter. Northern Trust Corp grew its position in Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after buying an additional 1,736,667 shares in the last quarter. Norges Bank acquired a new stake in Salesforce during the fourth quarter worth approximately $3,599,867,000. Finally, Price T Rowe Associates Inc. MD grew its position in Salesforce by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock worth $2,988,422,000 after buying an additional 1,683,233 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Trading Up 1.0%

NYSE CRM traded up $2.51 on Monday, reaching $263.14. The company had a trading volume of 9,275,001 shares, compared to its average volume of 6,501,274. The firm has a market cap of $251.56 billion, a price-to-earnings ratio of 41.18, a P/E/G ratio of 2.36 and a beta of 1.38. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The business has a 50 day moving average of $268.69 and a two-hundred day moving average of $296.11. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same period last year, the business posted $2.44 EPS. The business's revenue was up 7.6% compared to the same quarter last year. Analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.416 per share. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.63%. Salesforce's payout ratio is currently 25.98%.

Wall Street Analyst Weigh In

CRM has been the subject of several recent analyst reports. Canaccord Genuity Group cut their target price on Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Bank of America cut their target price on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Morgan Stanley restated an "overweight" rating and set a $404.00 target price (up from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Mizuho cut their target price on Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. Finally, BMO Capital Markets cut their target price on Salesforce from $367.00 to $350.00 and set an "outperform" rating for the company in a research note on Tuesday, May 27th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $349.08.

Insiders Place Their Bets

In other news, insider R David Schmaier sold 1,785 shares of the firm's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the sale, the insider now directly owns 29,190 shares in the company, valued at $8,416,644.60. This trade represents a 5.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Brian Millham sold 979 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $248,333.14. Following the completion of the sale, the chief executive officer now owns 6,487 shares of the company's stock, valued at approximately $1,645,492.42. This represents a 13.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,992 shares of company stock worth $6,704,198. Company insiders own 3.20% of the company's stock.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.